Turnover surges 13% as bargain hunters return to Dhaka bourse

Stocks staged a moderate recovery today (21 April) as bargain hunters returned to the Dhaka bourse, lifting the benchmark index after two consecutive sessions of decline, although lingering geopolitical tensions in the Middle East continued to cap stronger gains.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), rose 24 points to settle at 5,257, while the blue-chip DS30 index advanced 4 points to close at 1,984. Market breadth turned positive, with 215 issues advancing against 108 decliners, reflecting renewed investor participation across sectors. Turnover also picked up momentum, jumping 13% to Tk929 crore, indicating improved trading activity.

According to EBL Securities, the market rebound was largely driven by opportunistic investors taking positions in beaten-down stocks at attractive valuations. The session began on a positive note with active participation from both buyers and sellers, but sustained buying interest throughout the day helped the market close firmly in the green, offsetting intermittent selling pressure.

The improved participation suggests cautious optimism among investors, who are gradually returning to the market amid expectations of economic recovery. However, analysts noted that the lack of any near-term resolution to ongoing Middle East tensions continues to weigh on sentiment, preventing a stronger rally. The geopolitical uncertainty has disrupted the market's earlier recovery trajectory, which had been supported by domestic political stability.

Sector-wise, trading activity was dominated by engineering stocks, which accounted for 16.1% of total turnover, followed by textile and general insurance sectors. The sectoral performance remained mixed, with life insurance, IT and general insurance posting notable gains, while cement, financial institutions and mutual funds experienced slight corrections.

Among individual stocks, City Bank, Acme Pesticides, Dominage Steel, Summit Alliance Port and Khan Brothers PP Woven Bag led the turnover chart, highlighting investor focus on both financial and manufacturing scrips.

On the gainers' side, BD Lamps, Nahee Aluminum, Samata Leather, Agni Systems and Ring Shine Textiles recorded strong price appreciation, while International Leasing, FAS Finance, Peoples Leasing, IFIC Bank First Mutual Fund and Shurwid Industries were among the major losers.

Meanwhile, the Chittagong Stock Exchange also ended the session higher, with its key indices posting modest gains, although turnover remained relatively low at Tk33.29 crore.